The New York City real estate market is always in motion, but mid-2025 feels different. With mortgage rates hovering near 7%, inventory still tight, and both buyers and sellers adapting, the question keeps coming up: is this a buyer’s market or a seller’s market?

Let’s break it down—specifically with Queens in focus.

The Data So Far in 2025

According to market analysts, the NYC median listing price in Q2 2025 has climbed by 4.2% year-over-year. At the same time, new listings are down nearly 11%, and properties are spending slightly longer on the market than this time last year.

In Queens:

• Asking prices remain high in neighborhoods like Jackson Heights, Forest Hills, and Bellerose
• Inventory remains especially low for single-family and multi-family homes
• Co-ops and condos are moving faster, often with fewer contingencies

So, is it a buyer’s market?

Not quite—but it’s getting closer to neutral.

What Makes It a Seller’s Market Right Now?

• Low housing inventory continues to drive competition
• Many homeowners are locked into 3% mortgage rates and choosing not to sell
• High demand in transit-friendly neighborhoods keeps prices competitive

Sellers who list well-maintained homes near subways or in desirable school zones are still receiving strong offers.

Why Buyers Are Starting to Gain Ground

Here’s where things are shifting:

• Rising rates have capped affordability, reducing bidding wars
• More price drops are appearing on Zillow and StreetEasy listings
• Developers are offering perks like closing cost assistance or upgrades

Buyers who are financially ready and working with an agent who knows Queens intimately have more negotiating power than they did even six months ago.

Queens Neighborhood Highlights (June 2025)

• 📍 Jackson Heights: Steady demand but softer offers—good opportunities for buyers with financing ready
• 📍 Woodside: Investors pulling back slightly, creating space for primary homebuyers
• 📍 Bellerose: Sellers still in control, especially for move-in-ready homes with parking

Tip: Don’t overlook new construction listings and co-op resales—they’re often more flexible on pricing right now.

NYC in mid-2025 is technically still a seller’s market—but momentum is shifting. If you’re a buyer, now’s the time to get your paperwork in order, lock your rate, and start making strategic offers.

If you’re a seller, pricing correctly is critical. Today’s buyers are informed and selective—and even in high-demand neighborhoods, overpricing can backfire.